Lexmark to buy Germany's Saperion for $72 million

TessStynes

Lexmark International Inc.
LXK
agreed to acquire Germany-based software company Saperion AG for about $72 million, a move the printer company expects will support its growth as well as its software and solutions capabilities.

"Upon closing, Saperion will be the latest software acquisition that strengthens Lexmark's transition from being a global leader in imaging and output technology to one that offers enterprises end-to-end solutions," Chairman and Chief Executive Paul Rooke said.

The company, like others in the technology industry, has spent years wrestling with a maturing hardware market, facing squeezed margins and weaker growth from developed economies. Unlike many of its competitors, however, Lexmark has worked to stick to its core business and add software around it.

Saperion has a large installed base of customers consisting of midsize companies and global accounts such as Siemens AG (SI, SIE.XE) and Vodafone Group PLC (VOD, VODPF, VOD.LN). In addition to a platform-independent, multilingual architecture, Saperion also has developed cloud-based and mobile solutions.

The deal, expected to close in the current quarter, requires regulatory approvals.

Lexmark shares closed Monday at $39.66 and were inactive premarket. The stock is up 71% this year.

Intraday Data provided by SIX Financial Information and subject to terms of use. Historical and current end-of-day data provided by SIX Financial Information. All quotes are in local exchange time. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. Intraday data delayed at least 15 minutes or per exchange requirements.